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Ethereum Price Forecast February 26, 2018, Technical Analysis

By:
Christopher Lewis
Updated: Feb 24, 2018, 04:15 UTC

The Ethereum markets initially rallied during the trading session on Friday, gaining about 6% as I record this market. However, we are starting to see the market roll over, and on the longer-term charts, some of the crypto currency major players are starting to look a bit suspicious.

ETH/USD daily chart, February 26, 2018

ETH/USD

Ethereum markets rallied initially during the day on Friday, reaching above the $860 level, and extending to the $880 level. We have rolled over from there, and it looks likely that the market may drift a bit lower from here. More importantly, the Bitcoin markets look as if they are ready to roll over as well, and that could put a certain amount of knock on pressure in this market as well. I think that crypto currencies have had a nice rally as of lately, but on low-volume unfortunately. Ultimately, I think that the market continues to feel the aftermath of the massive breakdown.

ETH/USD Video 26.02.18

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ETH/USD daily chart, February 26, 2018
ETH/USD daily chart, February 26, 2018

ETH/EUR

Ethereum markets initially tried to break out during the day on Friday but struggled with a 6% gain being as good as it got. The market has rolled over at the €720 level, and I think that the market probably pulls back from here and reach towards the €650 level. Ultimately, I think that Ethereum will continue to struggle as the Bitcoin markets have shown a proclivity to roll over as well. As I record this, we are starting to show signs of exhaustion, perhaps reaching down to the €640 level. This is a market that continues to be very noisy, and I think we are going to have at the very least a bit of a short-term pullback. Otherwise, if we do rally I think that we have even more resistance at the €800 level.

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ETH/EUR daily chart, February 26, 2018
ETH/EUR daily chart, February 26, 2018

About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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